The New Hope Corporation Ltd (ASX: NHC) share price is in focus today after the company reported a significant increase in coal resources, with a 262 million tonne boost at Bengalla Mine and a 151 million tonne rise at New Acland Mine.
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What did New Hope report?
- Total coal resources grew to 2.96 billion tonnes as at 31 May 2026, up from 2.55 billion tonnes in 2025
- Bengalla Mine resources increased by 262 million tonnes, including a jump in underground resources from 76Mt to 100Mt
- New Acland Mine resources rose by 151 million tonnes, supported by new drilling and updated geological models
- Total recoverable reserves increased to 844 million tonnes (2025: 818Mt)
- Marketable reserves climbed to 516 million tonnes, compared with 507Mt the previous year
What else do investors need to know?
Recent exploration at Bengalla extended into new Exploration Licences, uncovering additional open cut and underground coal resources. At New Acland, drilling over the past two years within approved pit boundaries enabled a revised, JORC-compliant resource update.
Further mine planning and economic analysis are needed before new Bengalla resources can be converted to reserves. A concept-level study is complete, and pre-feasibility works are ongoing to support Bengalla's operational life beyond current approvals. Meanwhile, resource and reserve estimates for other New Hope assets were unchanged from last year, as no new exploration was conducted outside the two main operating mines.
What's next for New Hope?
The company will continue pre-feasibility studies at Bengalla to assess options for extending mining into prospective exploration areas. At New Acland, ongoing data collection and drilling may inform future approvals and potential extensions to the mine's life.
Management says further resource upgrades could occur with additional exploration and technical work, though future reserve conversions will depend on regulatory approvals and detailed mine planning.
New Hope share price snapshot
Over the past 12 months, New Hope shares have risen 44%, outperforming the S&P/ASX 200 Index (ASX: XJO), which has declined 1% over the same period.
